‘The Olympics: A Costly Feel-Good Moment’

The New York Times

February 7th, 2014 by 

Olympic Rings

With the Olympic opening ceremonies slated to start today in Sochi, Russia, Victor Matheson, professor of economics at the College of the Holy Cross, sat down for an interview with the New York Times to discuss the price tag of hosting the Olympic games.

“One of the things you’re always hoping is that you’ll have some long-term impact,” said Matheson. “And there had better be some sort of legacy, because if you’re going to spend $50 billion on the Olympics, like Russia, there’s no way you can possibly get that back in the two weeks that they are going on.”

“So why host?” the New York Times asked.

“The Olympics may not make us rich,” Matheson said, “but they make us happy.”

Related news coverage:

This “Holy Cross in the News” item by Cristal Steuer.

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